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The planning cycle is a step for strategy creation for medium-sized and small projects. The cycle enables one to have the ability to effectively implement the plan, cut costs, and ensure the companys long-term viability. The planning stage will involve priority recognition, so the main thing to be characterized by the company goals is to easily determine what will be done during the planning process. There is the possibility that conclusions or formulation of premises may disrupt and make the plan period repeat. It occurs if the assumptions are not proven to be correct, as a result the strategy will change, requiring a rerun of the planning process.
I will ensure that the company accomplishes goals using the approach of long-term and short-term strategy. The companys future prosperity can be guaranteed by adhering to this way of planning (Weintraub et al., 2021). Because of its more lasting nature, long-term planning is essential for ensuring the organizations overall effectiveness. For example, long-term planning involves considering how long it will take to build construction or if the building helps mitigate the effects of hurricanes and other weather-related catastrophes. Plans considered short-term often cover one year or less. In most cases, a year is the maximum acceptable time frame for investment. Certain tasks are expected to be carried out regularly and must be closely monitored and adjusted to ensure they do not persist too long.
The SMART goal fits my criteria which is an abbreviation for specific, measurable, achievable, realistic, and timely. Taking advantage of this, I will stress the need for strategic correctness in reducing misunderstandings, particularly when stating objectives. It is important for there to be a measurable numerical component, to assess progress towards achieving its goals (Weintraub et al., 2021). Any projects or responsibilities must be taken on to serve the organizations larger goals. In addition, the goal ought to be useful to the business and its employees. Within the strategy, the date and time for the plans implementation should be specified.
Reference
Weintraub, J., Cassell, D., & DePatie, T. P. (2021). Nudging flow through SMARTgoal setting to decrease stress, increase engagement, and increase performance at work. Journal of Occupational and Organizational Psychology, 94(2), 230-258.
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